by admin | Feb 2, 2019 | Accounting, Tech News
On or about 18 September 2017, the Accounting Standards Council (ASC) Singapore has issued INT FRS 123 Uncertainty over Income Tax Treatments came into effect on 1 January 2019, which clarifies the accounting recognition and measurement requirements for uncertainties...
by admin | Jan 16, 2019 | Accounting, Tech News
On or about 14 January 2019, the Accounting Standards Council (ASC) issued a revised Conceptual Framework for Financial Reporting and new/revised/amendments to SFRS(I)s up to 31 December 2019 which are effective for annual reporting periods beginning after 1 January...
by admin | Jan 11, 2019 | Accounting, Tech News
On or about 9 January 2019, the Accounting Standards Council (ASC) has submitted its comment letter to the International Accounting Standards Board (IASB) commended the IASB for its efforts in attempting to address the existing conceptual and application challenges...
by admin | Nov 20, 2018 | Accounting, Income Tax, Tech News
On 16 November 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the Second Edition of the e-Tax guide on Tax Treatment Arising from Adoption of FRS 115 or SFRS(I) 15 – Revenue from Contracts with Customers that replaces the First edition...
by admin | Oct 23, 2018 | Accounting, Tech News
On 22 October 2018, the International Accounting Standards Board (IASB) has issued narrow-scope amendments to IFRS 3 Business Combinations to improve the definition of a business.The amendments assist entities to determine whether a transaction should be accounted for...
by admin | Oct 9, 2018 | Accounting, Income Tax, Tech News
On 8 October 2018, the Inland Revenue Authority of Singapore (IRAS) has published the Summary of Responses on income tax implications arising from the adoption of FRS 116 – Leases. The 3 key comments accepted by IRAS are: 1. To provide guidance on the...
